# SKANDIA AMERICA REINSURANCE CORPORATION

## CASUALTY FACULTATIVE REINSURANCE ENDORSEMENT

| Certificate No. | SN26176 |
|-----------------|---------|
| Endorsement No. | 03      |
| Effective Date (Mo./Dy./Yr.) | 05/21/80 |
| Expiration Date (Mo./Dy./Yr.) | 05/01/81 |
| Policy No. | 9910310 |

**Ceding Company:** NATIONAL UNION FIRE INSURANCE CO.

**Name of Insured:** INTERNATIONAL BUSINESS MACHINES

**City:** ARMONK
**State:** NY

**Description of Change:**

IN CONSIDERATION OF THE PREMIUM CHARGED, IT IS AGREED
THE CERTIFICATE IS AMENDED AS FOLLOWS:
DELETE: CANADIAN POLICY 991-0310/CE 364-0492
ADD: CANADIAN POLICY 991-0310/CE 364-0505

| Company Gross | Date Payable (Mo./Dy./Yr.) | Skandia Gross | Comm. % |
|---------------|----------------------------|---------------|----------|
|                |                            |               | 25%      |

All other terms and conditions of this certificate remain unchanged.
IN WITNESS WHEREOF, Skandia has caused this Endorsement to be executed and attested and it shall become valid and binding when signed by a duly authorized representative.

ATTEST:
**Vice President**
**By:** **President**
**Authorized Representative**

Date (Mo./Dy./Yr.): 11/10/81